Houston, Texas, February 6, 2014 - Hi-Crush Partners LP (HCLP), "Hi-Crush" or the "Partnership", today reported fourth quarter results. Net income was $18.1 million, or $0.63 per limited partner unit, for the fourth quarter of 2013 and $58.6 million, or $2.08 per limited partner unit, for the year ended December 31, 2013.
The Partnership reported earnings before interest, taxes and depreciation and amortization ("EBITDA") of $22.1 million for the fourth quarter of 2013 and $69.2 million for the year ended December 31, 2013. The Partnership`s distributable cash flow for the fourth quarter of 2013 of $20.4 million corresponds to distribution coverage of 1.38x the total $14.7 million in distributions to be paid on February 14, 2014.
The average selling price of frac sand, reflecting the mix between pricing for delivery at the production facility and at the destination, was $74 per ton in the fourth quarter of 2013 compared to $65 per ton for delivery at the production facility only in the same period in 2012. The production cost for sand produced and delivered from the Wyeville facility was $12.50 and $15.49 per ton during the quarters ended December 31, 2013 and 2012, respectively.
HCLP should be increasing distributions
HCLP should be increasing distributions
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group